Horizon and Prime Announce Filing of Class Action Lawsuit

PR Newswire | December 12, 1997 | Copyright

BALTIMORE, Dec. 12 /PRNewswire/ -- Prime Retail, Inc. (NYSE: PRT, PRT.PRB) and Horizon Group, Inc. (NYSE: HGI) announced today that a purported shareholder of Horizon had filed a purported class action lawsuit in the Circuit Court for Muskegon County, Michigan against Horizon, Prime and certain directors and former directors of Horizon claiming, among other things, that Horizon's directors breached their fiduciary duties to Horizon's shareholders in approving the previously announced merger between Horizon and Prime and that the consideration to be paid to Horizon's ...

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